FXTM information and reviews
IronFX information and reviews
Libertex information and reviews
FXCC information and reviews
Markets.com information and reviews
FxPro information and reviews

The U.S dollar dropped after the Fed's meeting

11 June 2020

The U.S dollar traded lower against other currencies and hitting three-month low after Federal Reserve left interest rates unchanged and after an unpleasant U.S economy data release.

On Wednesday, investors left worried about the greenback future after the Federal Reserve left interest rates unchanged and indicated that interest rates will remain around 0% to 0.25% through 2022. Furthermore, the U.S GDP is anticipated to drop by 6.5% and the unemployment rate at 9.3% until the end of the year. Additionally, the U.S Consumer price index last month declined by 0.1% and the Consumer price index excluding Food and Energy also declined by 0.1% last month.

The U.S. Dollar Index, which measures the strength of the dollar against a basket of six major currencies, closed Wednesday’s trading session lower at 96.06.

Over in Europe, the Common currency traded higher against the U.S dollar gaining from weak greenback despite negative data in the Eurozone. Investors are currently concerned about the Eurozone economy after France, the second-largest economy in the Eurozone showed that the industrial output dropped by 20.1% for April, more than expected of 20% drop. The EURUSD ended the session at 1.13749.

In the United Kingdom, the Great British Pound was slightly higher against the U.S dollar. However, the Sterling is under pressure as investor confidence in the UK’s economy weakened due to the Brexit deal and Coronavirus.

Brexit negotiations of trade talks between Britain and the EU finished with little progress and lacked development influencing the GBP negatively. Besides, coronavirus death toll weighed on the currency as more than 50,000 people have died from COVID-19. The GBPUSD ended the session at 1.27446.

In the Safe-havens area, the Swiss Franc traded higher against the U.S. Dollar and ended the session at 0.94361 USDCHF. Likewise, the Japanese Yen ended the session higher for the third day against the greenback at 107.119.

Gold prices gained on Wednesday session and closed higher at 1738.16 after the Federal Reserve left interest rates unchanged as investors shift their investments to Gold during economic uncertainties.

In Australia, the Aussie dollar traded higher against the U.S dollar despite mixed data. On Wednesday, data showed that Westpac Consumer Confidence rose by 6.3% showing signs of improvements. However, Home loans dropped by 4.4% and Investment Lending for Homes dropped by 4.2% in April. The AUDUSD closed the session at 0.69970.

Cryptocurrencies Traded higher, as Bitcoin closed the session higher at 9853.00 BTCUSD and Ethereum at 245.36 ETHUSD. However, Litecoin ended the session almost flat at 44.31.



Dollar starts Fed week on front foot, stocks hit by Evergrande fallout
Dollar starts Fed week on front foot, stocks hit by Evergrande fallout

Fears of global contagion from the worsening crisis in China's property sector continued to weigh heavily on sentiment at the start of trading on Monday as markets...

20 Sep 2021

Dollar jumps, gold slumps, stocks nervous
Dollar jumps, gold slumps, stocks nervous

Worries that the US consumer is rolling over were dealt a major blow yesterday after the nation’s retail sales for August overpowered some gloomy forecasts. The retail sales...

17 Sep 2021

Energy is the play: how we get to $100 crude
Energy is the play: how we get to $100 crude

Natural gas futures in Europe and the UK are flying, while our natural gas (NG) CFD (the underlying is traded on the NYMEX) pushed over $5.60 and into 7-year highs...

16 Sep 2021

Are investors sleeping on systematic risk in China?
Are investors sleeping on systematic risk in China?

It’s time to talk about China. The situation is getting dicier as the nation’s second-largest property developer - Evergrande - is on the verge of default. Trading in the company...

16 Sep 2021

Sentiment sours as the S&P 500 tests key support
Sentiment sours as the S&P 500 tests key support

We head to quadruple witching in the US on Friday and notably options expiration (OPEX), and the weakness we see time and again in the week before seems...

15 Sep 2021

Dollar unscathed by soft inflation, equities resume slide
Dollar unscathed by soft inflation, equities resume slide

Dollar takes little damage despite signs US inflation has peaked - Wall Street resumes selloff - all eyes on China contagion risks - Canadian data coming up ahead of elections, gold wakes up...

15 Sep 2021

Forex Forecasts

OctaFX information and reviews
HotForex information and reviews
XM information and reviews
FXCM information and reviews
Vantage FX information and reviews
Vantage FX
Moneta Markets information and reviews
Moneta Markets

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.